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Tuesday, November 19, 2013

Daily Investor Briefing: JPMorgan says 'mea culpa' in $13...

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11/19/2013
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
JPMorgan says 'mea culpa' in $13 billion settlement with U.S.
WASHINGTON/NEW YORK (Reuters) - JPMorgan Chase & Co admitted it regularly overstated the quality of mortgages it sold to investors and agreed to pay a record $13 billion to resolve related charges, federal officials said on Tuesday.
Wall Street ends lower, but Home Depot helps Dow
NEW YORK (Reuters) - U.S. stocks fell on Tuesday, with the Dow and the S&P 500 retreating from milestone levels, led by a slide in Best Buy after a disappointing outlook.
Devon Energy near $6 billion deal for GeoSouthern: source
NEW YORK (Reuters) - Devon Energy Corp is close to a deal to buy privately held GeoSouthern Energy Corp for around $6 billion, according to a person familiar with the matter.
U.S. lawyer denies bribery at trial in Chevron-Ecuador case
NEW YORK (Reuters) - A U.S. lawyer on Tuesday denied using bribery to win a multibillion-dollar judgment against Chevron Corp in Ecuador, even as the oil company's lawyer raised tough questions about evidence that he said suggested the payments were made.
Analysis: Some funds lift cash levels as U.S. stocks' reversal feared
NEW YORK (Reuters) - As recently as six months ago, Sandy Villere was pushing more of his $1.1 billion fund into U.S. stocks - a good call given the 26 percent gain in the S&P 500 so far this year. But as he looks ahead to 2014, he's starting to question whether it could be downhill from here.
ThyssenKrupp in exclusive talks on sale of U.S. steel plant
FRANKFURT (Reuters) - German steelmaker ThyssenKrupp said on Tuesday it was in exclusive negotiations on the possible sale of its U.S. steel plant.
As big automakers go electric, Mazda squeezes more from gasoline engines
HIROSHIMA, Japan (Reuters) - Japan's Mazda Motor Corp has only a tenth of Toyota Motor Corp's research and development budget, but is betting it can make the century-old internal combustion engine as fuel efficient as hybrids like its rival's pioneering Prius.
U.S. court questions ex-GE bankers' bid-rigging convictions
NEW YORK (Reuters) - A U.S. appeals court on Tuesday questioned the convictions of three former banking executives at a unit of General Electric Co for being involved in a conspiracy to rig bids for contracts to invest municipal bond proceeds.
Diageo to launch new bourbons, doesn't need Beam Inc
LONDON (Reuters) - Alcoholic drinks maker Diageo PLC does not need to buy rival Beam Inc , its chief executive officer said on Tuesday, since it is expanding its existing whiskeys and launching new ones.
Spain launches sale of nationalized lender NCG Banco
MADRID (Reuters) - Spain's bank restructuring fund said on Tuesday it had formally launched the sale of nationalized lender NCG Banco, one of three banks still controlled by the state following a European bailout of the country's financial system last year.
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JPMorgan says 'mea culpa' in $13 billion settlement with U.S.

Analysis: Some funds lift cash levels as U.S. stocks' reversal feared
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